Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 46,558 shares of the industrial products company’s stock after acquiring an additional 808 shares during the period. GHP Investment Advisors Inc.’s holdings in Rockwell Automation were worth $12,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in shares of Rockwell Automation during the 1st quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Rockwell Automation during the 2nd quarter worth $36,000. Webster Bank N. A. purchased a new stake in Rockwell Automation during the first quarter worth about $44,000. Finally, Cultivar Capital Inc. acquired a new position in Rockwell Automation during the second quarter worth about $46,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Up 0.8 %

Shares of Rockwell Automation stock traded up $2.18 during trading hours on Friday, hitting $269.86. The company’s stock had a trading volume of 380,817 shares, compared to its average volume of 873,659. The business has a fifty day moving average of $265.79 and a 200 day moving average of $267.29. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $30.76 billion, a PE ratio of 26.38, a P/E/G ratio of 4.68 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $3.01 EPS. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.65 EPS for the current year.

Rockwell Automation declared that its board has authorized a share repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on ROK. TD Cowen decreased their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Bank of America upped their price objective on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer boosted their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Mizuho lifted their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Redburn Atlantic assumed coverage on Rockwell Automation in a research note on Monday, July 8th. They set a “neutral” rating and a $256.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and an average target price of $286.47.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.